Foot Locker to close 400 stores mostly in malls

[disneysteve]

Foot Locker plans to close 400 stores, especially in malls, to focus on free standing locations. Just another sign of the decline in traditional malls which has been going on for years.

https://www.the-sun.com/money/9067126/foot-locker-close-hundreds-stores/?mibextid=Zxz2cZ

[james.hendrickson]

Man, its been years since I was in a Footlocker location.

[myrdale]

I have not been in a Footlocker since high school. My last 10 pairs of shoes came from either Cabela's or Amazon or Academy Sports.

I am "slowly" working through Thomas Sowell's book Basic Economics. I just read a section about the rise and fall of companies. Part of the demise of amazingly successful companies is due to changes in leadership with different goals and strategies. But even the best managers can't succeed if the markets change dramatically.

[disneysteve]

I have not been in a Footlocker since high school. My last 10 pairs of shoes came from either Cabela's or Amazon or Academy Sports.

Mine have come from Amazon or Dick's. Maybe the running store but probably more than 10 pairs ago.

Part of the demise of amazingly successful companies is due to changes in leadership with different goals and strategies. But even the best managers can't succeed if the markets change dramatically.

Being able to adapt to a changing market is critical, and that's exactly what Foot Locker appears to be doing here. They are closing under-performing stores and moving away from the mall as their primary focus, putting their energies into their free-standing stores. I suppose that's where most of their business now comes from as malls have declined in importance in society.

The whole rise and fall of the shopping mall is a fascinating study in itself.

[kork13]

I think any retail store that doesn't have a significant online presence & infrastructure is going to struggle today, regardless of where they're physically located. Some devotees of Foot Locker might pursue them, but otherwise, I think that most people would do no more than stumble into them at present, whether in-store or online.